Bezant is focused on developing its pipeline of copper-gold projects to provide a new generation of economically and socially sustainable mines and also has a manganese project in Botswana.

The company portfolio of assets includes the following projects – more information on these projects is available on the Operations section of the Company’s website.

Hope Copper-Gold project in Namibia: The Company acquired 100% of Virgo Resources Ltd and its interests in the Hope Copper-Gold Project in Namibia on 17 August 2020. The Hope Copper-Gold Project covers a significant portion of the highly prospective Matchless Copper Belt. The Bezant project area contains a series of copper deposits, of which three (Hope, Gorob-Vendome and Anomaly).

On 27 October 2023 Bezant announced an updated Indicated and Inferred Mineral Resource Estimate for the Hope and Gorob copper project situated within EPL 5796 (“the “Project”) in Namibia, completed by independent consultants Addison Mining Services Ltd (“Addison” or “AMS”). Bezant Resources holds a 70% interest in the Project.

Highlights:

• The updated Mineral Resource Estimate (MRE) has been completed by Addison Mining Services Ltd., an independent consultancy based in the United Kingdom and is reported in accordance with the JORC Code (2012). Resources are of Indicated and Inferred categories and include:
  • A Total Mineral Resource of 15 million tonnes gross at 1.2 % Cu for 190 thousand tonnes of Cu estimated across the Hope, Gorob Vendome and Anomaly deposits and comprising:
    • Total Indicated Resources of 1.24 million tonnes at 1.6% Cu and 0.4 g/t Au at the Hope deposit.
    • Total Inferred Resources of approximately 14 million tonnes at 1.2% Cu across the Hope, Gorob, Vendome and Anomaly deposits, including approximately 3 million tonnes at 1.7% Cu and 0.4 g/t Au at Hope.

On 9 August 2022 Bezant announced it had submitted a mining licence application for the Hope-Gorob copper-gold project area which is pending government approval.

Kanye Manganese Project in Botswana: The Kanye Manganese Project acquired on 12 February 2021 comprises a collection of prospecting licenses (“PLs”) covering a total area of approximately 1,669km2, located in south-central Botswana south of the town of Jwaneng and west of the town of Kanye and 150km by road from the capital Gaborone. Kanye has potential for the discovery of high-quality manganese deposits suitable for supplying the valuable battery market.

In 2023 Bezant announced positive results from its maiden + 600 metre drill program at the Moshaneng prospect and also phase 1 and phase 2 of independent metallurgical test work which included a benchmark project review which confirmed that the Kanye manganese deposit demonstrates an excellent overall manganese recovery using moderate leaching conditions compared with benchmarked projects.

Mankayan copper gold project in the Philippines: The Mankayan copper gold project is a porphyry system located about 250km north of Manila on Luzon Island. On 27 March 2023 the Company announced the completion of thel share purchase agreement (the "SPA") to exchange its 26.36% shareholding in IDM Mankayan Pty Ltd ("IDM Mankayan") for a 27.5% shareholding in IDM International Limited (ACN 108029198) ("IDM International"). As at 30 September IDM International owns 100% of IDM Mankayan established to take the Mankayan copper gold project forward. IDM Mankayan assisted and supported Crescent Mining Development Corporation ("CMDC") in its application to renew the Mineral Production Sharing Agreement No. 057-96-CAR (the "MPSA") in respect of the Mankayan Project for a second 25-year term with effect from 12 November 2021. The Mankayan Project has a copper-gold resource estimate completed by Snowden Mining Industry Pty Limited prepared in 2009 under JORC (2004) which defined an Indicated Resource of 1.1 million tonnes of contained copper and 3.7 million ounces of contained gold and an Inferred Resource of 0.2 million tonnes of contained copper and 0.6 million ounces of contained gold.

Eureka copper project in Argentina: The company owns a 100% interest in the Eureka copper project which is a red-bed layered style mineral occurrence with potential feeder zones located under a historic underground mine in Jujuy province, Argentina.

Kalengwa copper / silver project in Zambia: The company acquired a 30% interest in the Kalengwa copper and silver project on 24 April 2020. In its 2021 accounts the Company announced that In light of technical and regulatory issues related to the Kalengwa project the Company has with the agreement of its partners agreed to pause work on this project pending resolution of these issues and accordingly has decided with effect from 31 December 2021 to make a full provision against its investment in the Kalengwa project. This exploration project is in the area surrounding the historic, high-grade Kalengwa open pit copper mine. The stratigraphic package at Kalengwa is similar to that hosting the world-class deposits in the Copperbelt. These deposits are thought to be formed from hydrothermal and ore-bearing fluids sourced from the intrusives of the Hook Granite complex. It is notable that such intrusives occur at the Kalengwa mine and are known from historic third party drilling and airborne magnetic surveying to occur at, or close to, several other prospects within the Licence.

The Company is quoted on the AIM Market: (BZT)

9 November 2023